Closing Bell Overtime: C3.AI Falls Sharply After New Short Seller Report; Apple Big Winner In New Teen Survey 4/4/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 4 April 2023

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

All three major averages closing lower today, the Dow and S&P 500 snapping four-day winning streaks. Vital Knowledge’s Adam Crisafulli and Macquarie’s Thierry Wizman break down the market action. Meanwhile shares of C3.AI lost a quarter of their value after short seller Kerrisdale Capital published a letter allegedly underhanded accounting. Kerrisdale’s CIO Sahm Adrangi discusses what the report claims. Piper Sandler has done its top teen choice survey for over 40 years. Analyst Harsh Kumar on why teens continue to love Apple and what it means for the stock. Plus, Marqeta CEO Simon Khalaf on the state of the consumer and Needham analyst Laura Martin makes a controversial call on Alphabet.

Transcript

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0:00.0	Well, stocks ending the day lower, the S&P and Dow both snapping a four day win streaks.
0:06.0	That is the scorecard on Wall Street, but the action is just getting started.
0:09.8	Welcome to Closing Bell overtime.
0:11.2	I'm Morgan Brennan, and John Fort is off today.
0:14.0	Coming up this hour will keep you up to speed on all of the development surrounding
0:18.2	Donald Trump and the just unsealed indictment as the former president makes his way to LaGuardia Airport
0:25.0	following his arraignment. You can see that on your screen right there. Plus, shares of C3
0:30.3	AI losing a quarter of their value today.
0:34.0	Worst day for that stock since it's gone public.
0:37.3	As another short seller takes aim,
0:39.4	we're going to talk to the founder of Caristale Capital
0:42.4	about his firm's short report and his allegations of
0:45.5	quote serious accounting issues at the technology company.
0:49.7	But let's get straight to our market panel shall we. Jo joining us now is Adam Chrisofooli
0:54.1	from Vital Knowledge and Terry Wiseman from Macquarie Group good afternoon to
0:58.3	you both and before we go to before we go to you we're just going to show these videos because this is
1:06.3	President Trump the former president arriving at LaGuardia after that
1:10.6	unprecedented and historic arraignment in Lower Manhattan at court just a short while ago,
1:18.8	Aiman Javers is in DC and Aiman, I'm going to go to you for the latest in terms of the headlines regarding the situation
1:27.2	the first time ever we've seen a former president charged criminally.
1:32.1	Morgan that's exactly right and we're watching the former president's motorcade as he gets
1:36.6	uh... on board his aircraft his personal aircraft uh... and this is so similar to so many scenes
	...

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